HMS Bergbau AG, a leading independent commodities trading and marketing company based in Germany, has announced its preliminary and unaudited financial results for the first half of 2026, revealing a significant surge in revenue and profitability. The company reported revenue of approximately EUR 1.1 billion, a rise of about 71% compared to EUR 643 million in the same period last year. Adjusted EBITDA for the first half stood at EUR 14.1 million, while EBITDA including one-off items reached EUR 22.5 million, up from EUR 8.3 million in the prior year. The positive one-off effects of EUR 8.4 million are attributed to the consolidation of the South African mining company Hoshoza Resources Vryheid.
The half-year figures are only partially comparable to the previous year's results, as those were prepared under the German Commercial Code (HGB), whereas the current figures follow the International Financial Reporting Standards (IFRS). Nevertheless, the strong performance underscores HMS's successful transformation into a diversified commodities company, with robust trading operations and the initial contributions from its mining ventures.
During the first six months of 2026, HMS experienced a strong trading performance across bulk products and liquid fuels. Notably, March and April were the most successful months in the company's history in terms of tonnage handled. The company also significantly expanded its activities in the metal ores sector. A key milestone was the signing of an exclusive off-take agreement for the Langpan mining project in South Africa, which secures the entire output of chromite ore for a minimum of eight years.
Another major achievement was the start of production at HMS's coal mines in South Africa and Botswana. Both mines are expected to reach full production capacity during 2026, and are projected to make substantial contributions to earnings in the near future. Dennis Schwindt, CEO of HMS Bergbau, expressed satisfaction with the company's performance, stating, “All business divisions have performed well and are contributing to our growth. Our trading business has performed very well; we were able to more than offset the restrictions caused by the closure of the Strait of Hormuz through increased trading in South-East Asia. We are particularly pleased that our coal mines have started production. Over the course of the rest of this year, we will gradually ramp up production there. We then expect to see corresponding positive contributions to earnings.”
Following the strong first-half results, HMS has confirmed its full-year forecast, which anticipates revenue rising to EUR 2 billion and adjusted EBITDA increasing from EUR 23.1 million in 2025 to EUR 35 million in 2026. The company notes that the exact extent of further impact from its ongoing activities at Hoshoza Resources Vryheid cannot yet be determined. The complete 2026 half-year report is scheduled to be published on 30 September 2026 and will be available on the company's website at www.hms-ag.com under the Investor Relations section.
